This is a follow-up to and expansion of a previous post, Keeping Homeowners Informed and Happy. Ensuring that homeowners are aware of developer decision-making and even developments in the actual planning process is not just an admirable goal for developers; in a time of economic recession, rising foreclosures, and mounting homeowner unease, it is a vital necessity. Developers concerned about lowering their risk and minimizing their liability in an environment of change and upheaval should communicate to homeowners not only regarding decisions involving the board of directors or homeowners directly, but also regarding planning and development decisions such as reducing density, the size of units, and price points. Although owners may have no direct say in any of these decisions, keeping them informed of the issues, considerations, options, and possible outcomes facing developers will go a long way toward enhancing developer-homeowner cooperation, building trust, and reducing developer exposure to unhappy residents in these uncertain times.
If you have any questions about how to keep homeowners in the loop on a regular basis, or how to navigate communications with homeowners generally, please contact us. As always, questions and comments are encouraged and greatly appreciated.